A firm is expected to pay $1,6 dividend per share next year.  The dividend is expected to grow at a 30% for 2 years and thereafter, decline and stay at a constant rate of 5%.  The required rate of return is 11%.  Find the stock price today.

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A firm is expected to pay $1,6 dividend per share next year.  The dividend is expected to grow at a 30% for 2 years and thereafter, decline and stay at a constant rate of 5%.  The required rate of return is 11%.  Find the stock price today.

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